The key facts
- The US is the largest tourism economy of 2025: $2.63 trillion, China — $1.75 trillion, Germany — $566 billion
- Germany overtook France and Spain thanks to its domestic market: 83% of overnight stays were by residents of the country
- Japan received a record 42.7 million foreign tourists (+15.8% vs 2024), China grew by 9.9%
Ranking of the Largest Tourism Economies
Visual Capitalist, based on data from the World Travel & Tourism Council (WTTC), compiled a ranking of the 25 largest tourism economies of 2025. The assessment took into account not only the direct contribution of hotels, restaurants and transport companies, but also the indirect economic effect — the activity of suppliers of goods and services, as well as the spending of industry employees. Therefore, the ranking does not coincide with the list of countries receiving the largest number of foreign tourists.
Leaders: the US, China and Germany
The top three was led by the US with an indicator of $2.63 trillion. China took second place with $1.75 trillion, Germany — third with $566 billion. The American figure is roughly 50% higher than the Chinese one: the gap between the two countries reached $880 billion, which is more than the tourism contribution of any other individual country.
Germany — the European Leader Thanks to Domestic Tourism
Germany became Europe's leader, overtaking popular tourist destinations such as France and Spain. The size of the domestic market played an important role: about 83% of overnight stays recorded in Germany in 2025 were accounted for by residents of the country. Despite a decline in the number of overnight stays by foreign guests, thanks to domestic demand accommodation facilities showed a record annual result.
Japan's Record for Foreign Tourists
In 2025, Japan received a record 42.7 million foreign tourists — 15.8% more than in 2024. In addition to seasonal attractions such as cherry blossom viewing and winter sports, an additional stimulus for travel was the World Expo held in Osaka.
Growth of China's Tourism Economy
China's tourism economy grew by 9.9% in 2025 — more than twice as fast as the global average. The number of foreign tourists increased by 15.5% and exceeded 68 million, while their spending turned out to be above the pre-pandemic level. Tourist attraction was facilitated by simplified entry rules: China expanded the list of countries with visa-free entry, extended the permitted length of stay for transit passengers, and also simplified border procedures and digital payment services.
